In this review paper, we described audio equalization in terms of its historical perspective, the established designs and approaches, and the frontier research directions and emerging challenges. Though low order parametric and graphic equalizers are well-established, variations and extensions of these designs, such as high order parametric equalizers or convolution-based graphic equalizers, offer almost limitless ability to shape the spectral content of a signal. These design choices allow the user or designer to favour precise control, low computational cost and/or minimal latency. Moving away from graphic and parametric equalizers, other approaches allow for the design of equalization filters that combine the most appealing features of IIR and FIR filters, or provide the means to match an arbitrary magnitude (or magnitude and phase) response. A summary of approaches to equalization and their relevant features and applications is given in Table 3.